Here are some facts to know when looking to rent an apartment in Boston:
Timing is everything. You do not want to be too late and miss the best places. It is never to early to start your apartment search. The rental market is very seasonal, with most apartments becoming available in the Spring and Summer. Typically in the Boston areas, because of the large college influence, apartments get rented 11 months in advance because the demands are so high. Our company receives notices from landlords 2 month to 4 months in advance prior to vacancy. Most leases start on the first of the month and 90% of all leases expire on August 31st of the given year. Therefore most of the best apartments will be available in the April through September time frame. So if it is near April, you may want to start your search to ensure the best choices for apartments.
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There is always a limited supply of quality housing available. The average turn around for the Boston Rental Market is around 65% but the percentage of non vacancy 97%. This means that only three percent of apartments do not get rented. This is usually because of the poor condition of these apartments.
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Location to the "T" is everything. The closer you are, the more expensive it is. Properties with parking are at a premium, if it is even available. In Allston/ Brighton, Boston, Brookline, Cambridge, Jamaica Plain and Somerville street parking is by permit only. The average parking space cost around $175 per month and ranges from $75 dollars to $350 dollars.
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Dog and cat friendly apartments are very hard to come by in Boston. The reason for this is that the rental market is very competitive, and landlords do not need to risk damage of their property. Some condominium associations do not allow pets in the building, which takes president over the landlords decision to allow you to have pets. If you have a pet, expect to pay a high premium for an apartment and/or pay a higher security deposit.
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What does it cost to move into an apartment? You can expect to pay first month, last month, and possibly one month security deposit. As of December 2006, many landlords are paying the either all or half of the real estate fee which is equal to 1 month's rent: ALL DUE UPFRONT AND PRIOR TO MOVE IN. Some landlords require a lock and key deposit.
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Boston is the second most competitive rental market in the country, which increases the cost of living. If you are coming from a non-metropolitan area, plan on doubling your current rent.
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